News Round Up
PAA adds another asset, Survey shows confidence up - slightly, St Laurence sale gets $3.9m, New franchisee.
Monday, January 28th 2008, 7:25AM
Besides moving to becoming a professional body with association provides its members with a number of other benefits including holiday homes. Currently the PAA has seven holiday homes, six of them are debt free.
The PAA has a strong balance sheet with net assets of between $2.5million and $3million which puts it in "an excellent position going into the regulated environment."
Survey shows confidence up - slightly
ING's investor confidence survey shows that people are cautiously optimistic, the company says, despite fears about the ripple effect of the US subprime mortgage crisis, and the failure of local finance companies.
The survey was done late last year and covers 13 countries. It shows New Zealand and Australian investors bucked the regional trend in the Asia-Pacific survey, which shows investor sentiments had moderated somewhat.
St Laurence sale gets $3.9m
St Laurence Property & Finance has entered into a conditional contract to sell its remaining 5.14% holding in Rural Equities.
It plans t sell the shares to New Zealand Permanent Trustees Limited in its capacity as trustee of REL-Pacific Equity Trust.
The shares will be sold at $2.85 each for a total of $3.9 million. The sale requires the approval of REL shareholders.
New franchisee
Triplejump, a multi-agency franchise life insurance advice company, has signed its 10th franchise.
The latest franchisee is Hawkes Bay adviser, Darren Morley. Triplejump intends to launch an IT platform this quarter which will integrate the business processes of all its franchisees.
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